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20121027
20121104
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Search Results 0 to 24 of about 25 (some duplicates have been removed)
. >> during the gm bailout there was trouble with the biggest parts provider delphi. that prompted a lot of nervous questions from delphi retirees union and nonunion. that's how president obama describes the u.s. auto bailout on the campaign trail. in 09 teetering gm got billions. but the deal would not work without labor piece and the united auto workers wanted delphi members taken care of. delphi was and is gm's top parts supplier. they were wading through bankruptcy canceled employee pensions handing off the remains to a federal government a nightmare for delphi retirees. >> my pension went from 2,550 dollars a month to the government paying $335 a month. >> the folks at the international union wanted help. if gm restored the union's delphi pensions the uaw would go along with the bailout. gm agreed. >> when you heard the union pensions are being topped off you would think everybody would be treated fairly and equally. that was not the case. >> 20,000 salary delphi retirees got no pension bailout. many suspect they know why. >> the union had political connections and we do not. >> tha
by threatening to withold key auto parts from reaching gm's assembly line. "the hedge fund held up steering columns and other things that had gm not gotten them, they would've gone under. chrysler as well." "they were literally willing to risk the survival of gm to make as much money as they could." steven rattner, former counselor to the treasury during the bailout period, called it "extortion demands by barbary pirates." palast says delphi relocated parts plants in china and emerged from bankruptcy, going public last year. the company, purchased by the romneys' hedge fund at 67 cents per share in 2009, sold for $22 a share at the ipo - a 3,000% profit for investors like the romneys. a return largely the result of the auto bailout that romney so publically opposes. "it further solidifies the democrats' and labor's picture of romney as out-of-touch and more interested in personal wealth creation than job creation." with the presidential election less than a week away, the coalition of union and good government groups is urging the office of government ethics to act now to ensure mitt romney
what was happening. all of us in the auto industry were looking at gm and chrysler. we sought to companies on the verge offailure that were going to take down the entire supplier industry. we also saw an industry that had to be restructured. bill ford is my hero. he fired in self. they put forward in a good place, so they did not have to be rescued. they laid out a map for what had to be done, and everybody had to sacrifice. neil: and the end justifies it because things are back. and is starting with president bush. i'm not criticizing, but it did not lead to a slippery slope. >> once again, the difference between this was, this was not a bailout. a bailout is when you give money to the existing guys. restructuring. the key thing that obama did -- neil: the, the bankruptcy and restructuring. >> but the restructuring was driven by the president's team. a bankruptcy court would never have done that by itself, and it is the reason i don't like the mitt romney passive approach, just turn over to the courts. it would not have moved fast enough. it would not have taken the action t
to nearly 300,000 residents in west virginia. coming up, the obama administration takes credit for saving g.m. but nonunion workers at an ohio plant think they got a raw deal. now to the next to vote question. which of these bluest states is most likely to swing red? text sr1 to 36288 for michigan. sr2 for minnesota. sr3 for new mexico. sr4 for pennsylvania. results a little later. next up, a close look at the latino vote. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. actually... th way i could split my payments up into little bite-size chunks. i mean you feel me right? yeah. uh, sir... ah... [ male announcer ] shop now. and put it on layaway so you have more time to pay. walmart. [ metal rattling ] ♪ hello? boo! i am the ghost of meals past. when you don't use new pam, this is what you get. residue? i prefer food-based phantasm, food-tasm. poultry-geist works too if you used c
parts division of gm. you know delco batteries. we had gm that desperate to cut off its own parts and set off delphi as a separate company which immediately pretty quickly went bankrupt. well, down went the vulture's and they pick.delphi corp. out of bankruptcy court for 67 cents, a darned good deal for the entire auto parts division of general motors. 67 cents a share. within two years they flipped it. they went public at $22 a share. share. that is it 3200% prophet that they weren't done. they weren't done. delphi had 29 plans in the u.s. and the delphi group sold it back to gm and the rest, every single plant was sold, was sent off to china. every single uaw job, everyone, 25,200 uaw workers including -- i got a call from michael moore. his dad had the delphi plant and flint michigan. every job sent to china, every one. now that was not the plan. obama's administration came up with the deal with the owner of detroit to take over the delphi unit and basically give it back to general motors. gm, the pistons and the u.s. government would buy back delco auto parts and give it back
when gm was getting bailed out delphi was going through bankruptcy and there were lots of employees salaried and union who were asking nervous questions about their pensions. >> how is our healthcare looking after retirement? how is our pension looking? everything is good. pension plan is well funded. >> we were told that everything was secure in your pension, and you plan on that for the rest of your life. >> until like its dayton area plants delphi shut down the employee pension plans handing them off to the federal government. >> when my pension went from 2,500 $50 a month guaranteed to the federal government saying you'll get $385 a month. >> and you spend years and years making your financial plan for retirement and going through all the numbers and wanting to live like you wanted to live and with your children and grandchildren, and then it gets taken away from you in a heartbeat. i feel absolutely betrayed. >> enter delphi's biggest auto parts customer gm and the obama administration's eagerness for a quick restructuring of the automaker, gm wanting labor peace agreed to rest
campaign has countered with a new ad in ohio and michigan. >> gm calls romney's ads politics at its cynical worst. and chrysler's ceo said it's simply not true. we know the truth, mitt. >> that's exactly what i said. the headline you read which is let detroit go bankrupt. >> when romney airs these grossly false ads, it opens up the door obviously for the obama campaign to hit back hard. in the state of florida it actually gets worse. romney desperately needs to win the state of florida and he is running a spanish language ad meant to stoke the fears of cuban-americans. the ad tries to connect president obama to venezuelan president hugo chavez and fidel castro. "the miami herald" reports the romney campaign would not furnish the ad despite repeated requests. in other words, the ad is so outrageous, the romney campaign tried to slip it under the radar. obviously the strategy is backfiring. let's turn to annette taddeo, member of the miami-dade democratic party. annette, great to have you with us tonight. i keep saying the bread basket to victory for president obama is going to be south flori
minutes apart with two very different stories. does this town really revolve around the gm plant? >> yes. >> no question? >> no question. >> we meant sherry gaunt in lordstown, long time gm worker and vice president of the local united autoworkers. >> look where gm is now. if the government didn't step in, might not be working, might not have a job. >> here at gm's lordstown, ohio, plant, they're cranking out the chevy cruz. they're got from one shift of 100 workers to three shifts with 4500 workers today. but like most autoworkers these days, she felt the pain of the layoffs. >> how much does it play into politics for you in this election? >> it means everything. >> everything? >> everything. we're doing real well right now. >> her coworkers told us a similar story. who are you supporting for president? >> obama. >> why? >> because he's for the working class. and he helped with the bailout. >> it speaks about his dar character, speaks about his concern for us. >> in warren, ohio, some former autoworkers are angry. >> i was one of the innovators. bruce worked for delphi for 34 years, a s
at the gm plant calling their employers worried and asking if it is true that their jobs are being shipped to china. the reason they are making these calls because governor romney has been running an ad says so except it is not true. everybody knows it is not true. the car companies themselves have told governor romney to knock it off. gm says creating jobs here should be a source of bipartisan pride. governor romney has been running an ad that says so. except that it's not true. everybody knows it's not true. it the companies themselves have told them they are cutting jobs. saying "lead detroit go bankrupt." this is not a game. these are people's jobs. these are people's lives. these car companies are putting a lot of effort into making great products but also making sure that everyone in america knows how committed they are to making cars here in america. you do not scare hard-working americans just to scare up some votes. that's not what being president is all about. that's not leadership. when i first made the decision to rescue the automobile industry, i knew it was not popular. one o
't know the number one investment of the vulture was the that division of gm? and by the way the romney campaign has confirmed that he made the money and it looks like it may be at the top of the range $115 million. >> so let me ask you this. if he'd released his tax returns, would we have needed investigative reporting? >> yeah, you would. because he's hiding it very well. he's taken the money, he earned the 15 to $115 million and moved it, the in-koorcorporation of d moved it from troy, michigan to the isle of jersey. a notorious tax haven. >> the isle of jersey is not new jersey. >> leave the boss out of it. exactly. so yeah, they moved all the jobs. and this is the other side of the story which people have not noticed. the vulture and his silent partner, romney, took over the auto parts division of general motors. they moved the 25 plants that they had control of, they moved 24 of those plants to china and asia. every plant. they didn't save those plants. it wasn't like this was gm. he actually got rid of the employees, moved the jobs to china and moved his money to iraq off the coa
or china? gm cut 15,000 american jobs, but they are planning to double the number of cars in china which means 15,000 more jobs for china. chrysler plans to start making jeeps in china. what happened to the promises made to autoworkers in ohio? this same hard-working men and women who were told the auto bailout would help them. mitt romney would welcome the auto industry. mitt romney, he will stand up for the auto industry in ohio. not china. host: so that is a radio ad that we were talking about. this has been on television ads across all media markets as well. guest: what i have seen in northeast ohio, yes, there is a version of that that runs. it has drawn a strong rebuke from the owners of chrysler. again, it is taking two unrelated things and trying to argue that the president is responsible for the shipping of jobs to china. there are investments being made in jeep in ohio. i think it is an example of how important the although voter is. -- the auto voter is. there may be some people who peel off who get upset about that china issue. host: running ads directly challenging the mitt
Search Results 0 to 24 of about 25 (some duplicates have been removed)